The PERE Credit 50

This ranking includes funds and mandates designed to lend or participate in syndicated loan deals – it does not include funds raised for the purpose of buying defaulted debt.

Our researchers gave the highest priority to information received from managers themselves. When managers confirm information, we seek to ‘trust but verify.’ To encourage co-operation, we do not disclose which GPs aided us on background and which did not. Where we lack information from managers, we seek to corroborate information using sources including company websites, announcements and limited partner disclosures.

Focus on the US

This ranking concerns real estate debt funds and mandates targeted toward the US. Where we can identify the allocation to the US within a multi-regional fund, the volume of that allocation is counted towards a manager’s total.

Structures

• Limited partnerships
• Co-investment/side car vehicles
• Seed capital or manager commitment

Strategies

• Debt issuing funds
• Participation in syndicated real estate loans

• Expected capital commitments
• Public funds
• Funds of funds
• Non-discretionary vehicles
• Secondaries vehicles
• Real estate equity funds (core, core plus, value-add, opportunistic)
• Private equity funds
• Infrastructure funds
• Hedge funds
• Capital raised from affiliated entities
• Capital raised on a deal-by-deal basis
• Real estate funds which acquire debt in order to obtain ownership of underlying assets